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The merger arbitragers are pretty daring to be selling insurance for pretty low premiums.
I have no idea of Dyna-Mac's intrinsic value but did the Keppel Capital allocators made a mistake selling their 25% stake at 35cents few months ago? Does this reflects the capability of these allocators at Keppel Capital OR is this hindsight bias at work?
The MayBank sell-side analysts opine that "60cents is a fair price but on the lower end". In June2024, its TP was still 52cents before it was lifted to 62cents 1 month later. So I reckon beauty is always in the eye of the beholder. Without a prince, Cinderella is probably not a fairy tale!
Brokers’ take: Dyna-Mac shareholders should wait for better offer, analysts say
South Korean company Hanwha on Wednesday (Sep 11) launched the offer to take management control of Dyna-Mac at S$0.60 a share.
In a report on Thursday, Maybank analyst Jarick Seet said the offer price, though fair, is on the lower end of the fair-value range.
Shares of Dyna-Mac : NO4 +0.81% were trading 0.8 per cent or S$0.005 higher at S$0.625 as at 1.28 pm on Friday.
https://www.businesstimes.com.sg/compani...alysts-say
I have no idea of Dyna-Mac's intrinsic value but did the Keppel Capital allocators made a mistake selling their 25% stake at 35cents few months ago? Does this reflects the capability of these allocators at Keppel Capital OR is this hindsight bias at work?
The MayBank sell-side analysts opine that "60cents is a fair price but on the lower end". In June2024, its TP was still 52cents before it was lifted to 62cents 1 month later. So I reckon beauty is always in the eye of the beholder. Without a prince, Cinderella is probably not a fairy tale!
Brokers’ take: Dyna-Mac shareholders should wait for better offer, analysts say
South Korean company Hanwha on Wednesday (Sep 11) launched the offer to take management control of Dyna-Mac at S$0.60 a share.
In a report on Thursday, Maybank analyst Jarick Seet said the offer price, though fair, is on the lower end of the fair-value range.
Shares of Dyna-Mac : NO4 +0.81% were trading 0.8 per cent or S$0.005 higher at S$0.625 as at 1.28 pm on Friday.
https://www.businesstimes.com.sg/compani...alysts-say
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.